How to check to see if IW value exists

System

I need to be able to check to see if an Iw_value name field exists. There are times when it will be empty and the field is a date field that is being reformatted via a ColdFusion call to the TPL. It seems to me when fields are empty, Teamsite does not return any values - how can I check for this in CF or TS?

<CFIF (#Parameterexists('{iw_value name="philresults.Philadelphia Date" /}')#)>